Developing the next generation at CGU

In the CGU business, the war for talent is particularly intense.

“Our business is complex – we’re dealing with brokers and intermediaries, each of whom holds a huge amount of business. We need skilled people to deal with them, and we just can’t get enough,” says Rita Agati, Head of Strategy & Culture.

“In addition, we have a pretty good understanding of how many people are leaving our workforce in the next five years. All the technical knowledge sits with our senior underwriters, and we needed to find a way to transfer this information to the rest of the organisation.”

As a result, Rita and her team set up the CGU Academy, which gives technical training and up skilling in product and underwriting. Senior underwriters have contributed to the program content, thereby capturing their knowledge formally so it can be passed on to other underwriters and employees.

The Academy combines online product training as well as classroom learning, and incorporates three levels.

“The Academy can potentially compress eight years of underwriting knowledge into two years, which can be complemented with experiential learning on the job. We’re involving our claims people as well so there is a real cross-pollination between our underwriters and the people who have to translate the products to our customers,” says Rita.

“Plus the Academy provides career-development opportunities for our employees, which are a key driver of engagement in our part of the business.”

David Haywood, ebusiness analyst and Academy participant, agrees.

“If I want to pursue an underwriting or account management role down the track, what I’m learning at the Academy will be essential,” says David.

“And it’s really helping me get an important perspective in my current job. I help design the electronic systems and processes that brokers use to transact customers’ policies over the Internet. The more I learn about rates and underwriting rules, the more I can improve the functionality of the products I develop.”

Six hundred people are expected to attend the Academy within the first 12 months.

Rita suggests that the Academy can also add value to brokers.

“Right now we’re operating in a very competitive environment,” says Rita. “Being able to offer products like the Risk Radar and programs such as the Academy differentiate us in the market.”